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Definition of

occupational pension


in UK, pension plan maintained by employer in the United Kingdom, a pension plan run by an organization for its employees. Occupational pensions are regarded as deferred pay and form part of the total compensation package. Until recently, most plans were based on final salary but there has been a shift toward money purchase pensions, particularly among smaller companies. Alternatively, employers may choose to contribute to an employee's personal pension.

Related definitions of "occupational pension"

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Definitions of ’occupational pension’ and meaning of ’occupational pension’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’occupational pension’ and other financial terms with our online QFINANCE Financial Dictionary.

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